Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Study online at https://quizlet.com/_if9yh0
1. Staff Adjuster Adjusters who work ex-
clusively for an insurance
company
2. Independent adjuster An individual who is em-
ployed as an independent
contractor to an adjusting /
staffing company and han-
dles claims for an insurance
company
3. Public adjuster Adjusters that represent
the insured by negotiating
claims with the insurance
company.
4. Insurer Any insurance company or
self-insured. An organiza-
tion or entity that facili-
tates the pooling of funds
and the payment of bene-
fits (second party).
5. Insured A person or organization
covered by an insurance
policy. (first party)
6. Claimant A person or organization
making a claim against an
insured. (third-party)
7. Commissioner
, Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Study online at https://quizlet.com/_if9yh0
A State officer who admin-
isters insurance laws and
regulations.
8. TDI Texas Department of Insur-
ance
9. Licensee An individual holding a li-
cense under the authori-
ty of the Texas Insurance
codes.
10. Provider An individual or organiza-
tion including a corpora-
tion, partnership, deposi-
tory institution, insurance
company, or entity char-
tered by the Farm Cred-
it Administration as de-
fined in the insurance code,
registered with the De-
partment to offer con-
tinuing education courses
for licenses and/or pre-li-
censing instruction for Ad-
justers.
11. Texas department of insurance license number an identification number
that the department as-
signs to the licensee locat-
ed on the adjuster's license
certificate
, Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Study online at https://quizlet.com/_if9yh0
12. How many questions are on the all lines adjuster test 150 questions and 180
and how long do students have to take it? minutes
13. What does DTPA stand for? Deceptive Trade Practices
Act
14. Negligence failure to use the care that
a reasonable and prudent
person would have used
under the same or sim-
ilar circumstances. (unin-
tentional tort)
15. Intentional torts Acts committed without
negligence but resulting in
damages
16. Strict liability also referred to as absolute
liability, meaning not de-
pendent on negligence or
intent to harm, but based
on the theory of the duty
of making something safe
that is inherently danger-
ous.
17. Name the five parts of a typical homeowner's policy - A, main dwelling.
Coverages A-E B, other structures.
C, personal property or
contents.
D, loss of use (ALE).
E, other coverages which
, Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Study online at https://quizlet.com/_if9yh0
would include endorse-
ments.
18. Replacement cost (RC or RCV) This is what the insured
would pay to rebuild or re-
pair the home based on
current construction cost.
this is different from market
value and does not include
the value of the land.62
19. Actual cash value (ACV) This is the replacement cost
of a property minus depre-
ciation from age or condi-
tion
20. These are available if the insured wants more cover- Endorsements
age than a policy provides for certain items. Some of
the most common of these expand or increase cov-
erage for jewelry, Fine Arts, camera equipment, coin
or stamp collections, computer equipment, radio and
television satellite dishes as well as antennas.
21. How long does the insured have to provide an item- 60 days
ized list of the household items lost or damaged and
the cost of repairing them after reporting a loss?
22. If the house has a mortgage on it, who is the check Checks are made payable
made out to for a claim? to the insured and the lien-
holder
23. 365
Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Study online at https://quizlet.com/_if9yh0
1. Staff Adjuster Adjusters who work ex-
clusively for an insurance
company
2. Independent adjuster An individual who is em-
ployed as an independent
contractor to an adjusting /
staffing company and han-
dles claims for an insurance
company
3. Public adjuster Adjusters that represent
the insured by negotiating
claims with the insurance
company.
4. Insurer Any insurance company or
self-insured. An organiza-
tion or entity that facili-
tates the pooling of funds
and the payment of bene-
fits (second party).
5. Insured A person or organization
covered by an insurance
policy. (first party)
6. Claimant A person or organization
making a claim against an
insured. (third-party)
7. Commissioner
, Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Study online at https://quizlet.com/_if9yh0
A State officer who admin-
isters insurance laws and
regulations.
8. TDI Texas Department of Insur-
ance
9. Licensee An individual holding a li-
cense under the authori-
ty of the Texas Insurance
codes.
10. Provider An individual or organiza-
tion including a corpora-
tion, partnership, deposi-
tory institution, insurance
company, or entity char-
tered by the Farm Cred-
it Administration as de-
fined in the insurance code,
registered with the De-
partment to offer con-
tinuing education courses
for licenses and/or pre-li-
censing instruction for Ad-
justers.
11. Texas department of insurance license number an identification number
that the department as-
signs to the licensee locat-
ed on the adjuster's license
certificate
, Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Study online at https://quizlet.com/_if9yh0
12. How many questions are on the all lines adjuster test 150 questions and 180
and how long do students have to take it? minutes
13. What does DTPA stand for? Deceptive Trade Practices
Act
14. Negligence failure to use the care that
a reasonable and prudent
person would have used
under the same or sim-
ilar circumstances. (unin-
tentional tort)
15. Intentional torts Acts committed without
negligence but resulting in
damages
16. Strict liability also referred to as absolute
liability, meaning not de-
pendent on negligence or
intent to harm, but based
on the theory of the duty
of making something safe
that is inherently danger-
ous.
17. Name the five parts of a typical homeowner's policy - A, main dwelling.
Coverages A-E B, other structures.
C, personal property or
contents.
D, loss of use (ALE).
E, other coverages which
, Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Mile High Adjusters - Texas All Lines Adjuster License Study Guide
Study online at https://quizlet.com/_if9yh0
would include endorse-
ments.
18. Replacement cost (RC or RCV) This is what the insured
would pay to rebuild or re-
pair the home based on
current construction cost.
this is different from market
value and does not include
the value of the land.62
19. Actual cash value (ACV) This is the replacement cost
of a property minus depre-
ciation from age or condi-
tion
20. These are available if the insured wants more cover- Endorsements
age than a policy provides for certain items. Some of
the most common of these expand or increase cov-
erage for jewelry, Fine Arts, camera equipment, coin
or stamp collections, computer equipment, radio and
television satellite dishes as well as antennas.
21. How long does the insured have to provide an item- 60 days
ized list of the household items lost or damaged and
the cost of repairing them after reporting a loss?
22. If the house has a mortgage on it, who is the check Checks are made payable
made out to for a claim? to the insured and the lien-
holder
23. 365
